Samsung Electronics to lift stake in Cheil Worldwide for $235 mln

Cheil Worldwide

27/10/2016 01:18

SEOUL, Oct 27 (Reuters) - Samsung Electronics Co Ltd 
 005930.KS  said on Thursday it is buying 267.5 billion won 
($235 million) worth of shares in Cheil Worldwide Inc 
 030000.KS  from Samsung C&T Corp  028260.KS . 
    Samsung Electronics said in a regulatory filing it aims to 
boost strategic ties with Cheil - an advertising arm of Samsung 
Group  SAGR.UL  that counts the world's top smartphone maker as 
key client.  
    Samsung Electronics's stake in Cheil will rise to 25.24 
percent following the acquisition. Samsung C&T is selling its 
entire stake in Cheil through the transaction.  
              
 
($1 = 1,137.9000 won) 
 
 (Reporting by Se Young Lee; Editing by Edwina Gibbs) 
 ((vincentsy.lee@thomsonreuters.com; +822 3704 5646; Reuters 
Messaging: vincentsy.lee.thomsonreuters.com@reuters.net; follow 
me on Twitter @Rover829)) 
 
Keywords: CHEIL WORLDWIDE M&A/SAMSUNG ELECTRONICS